Oct. 22, 2012 (China Knowledge) - Guangdong Rising Assets Management Co Ltd, a state-owned investment group in China, has announced it plans to issue RMB 3 billion in short-term bills with a maturity of 365 days in the interbank market on Oct 29.

The company said in a statement that the bills will be issued at face value, and the coupon rate determined in the process of book-building.

Both value and payment due date is set on Oct 30, and the to-be-issued bills tradable Oct 31.

All the proceeds from the issue will be used to repay bank loans, said the issuer.